CalPERS developing a plan to reboot PE co-investmentsPosted: 05/14/2019 |
Subscription Required California Public Employees’ Retirement System in June will present the board with a new co-investment strategy, including a new method for vetting co-investment opportunities and deciding how active to be on a deal, according to CIO Ben Meng. CalPERS stopped co-investing in 2016, as part of the same long-term review of PE that led it to […] | | Read more... | |
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Louisiana Teachers commits up to $275 mln to private marketsPosted: 05/14/2019 |
Subscription Required Teachers’ Retirement System of Louisiana at its May meeting pledged up to $275 million across asset classes, Executive Liaison Director Lisa Honore told Buyouts. Louisiana committed $100 million to Platinum Equity’s fifth flagship fund, targeting $8 billion. New Enterprise Associates XVII, a venture fund targeting $3.6 billion, according to an SEC filing, and focusing on healthcare and technology, […] | | Read more... | |
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Amid OZ enthusiasm, experts worry about gentrificationPosted: 05/14/2019 |
Subscription Required Opportunity zones have made a huge splash in the wealth-management and family-office space. Firms are moving full speed ahead to take advantage, with some calling the enabling U.S. law a once-in-a-lifetime opportunity. While the law is part of President Donald Trump’s tax-cut bill, the section creating OZs was bipartisan, originally part of a bill introduced by Sen. Tim […] | | Read more... | |
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PA SERS backs Ares and Permira in latest round of PE fundingPosted: 05/13/2019 |
Subscription Required Pennsylvania State Employees’ Retirement System at its April meeting committed $875 million to private equity funds, in line with its 2018-2019 investment plan, meeting documents show. The investment plan set its annual pacing for new PE commitments at $650 million to reach its target allocation of 16 percent. Its current annual pacing sits at $750 […] | | Read more... | |
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CalPERS hires Altamont’s Ruiz as PE director, closing 2-year vacancyPosted: 05/13/2019 |
Subscription Required California Public Employees Retirement System hired an executive from Altamont Capital Partners to lead its private equity program, a post that had been vacant for more than two years. Greg Ruiz is the new managing director, CIO Ben Meng said at the May 13 investment committee meeting. “Greg has worked his whole career in private equity, most recently as a principal […] | | Read more... | |
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Texas Teachers: $389 mln to PE via Cinven, morePosted: 05/10/2019 |
Subscription Required Teacher Retirement System of Texas committed $389 million to private equity in April, with the biggest commitment going to Cinven. The $150 billion system also pledged to a co-investment aggregator and a single-LP fund. All commitments were made during April. The pension committed €225 million ($252.7 million) to the seventh Cinven fund, which focuses on […] | | Read more... | |
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Emerging Manager Roundup: Argonne, Star America, OSP, Summit AG and morePosted: 05/10/2019 |
Subscription Required Fundraising for emerging managers continued at a slow pace. Fifteen emerging managers raised $1.1 billion from April 24 through May 7, according to Buyouts data. Argonne Capital Partners outraised all firms. The Atlanta-based firm raised $261.3 for its debut parallel fund. It invests in restaurants, retail, automotive service and light industrials. Star America Infrastructure Partners […] | | Read more... | |
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CalSTRS adds new PE benchmarks, discusses hiring plansPosted: 05/09/2019 |
Subscription Required California State Teachers’ Retirement System approved new benchmarks for its private equity investments, hoping to better capture its expected returns from fund-of-fund mandates and new strategies like long-hold investments. The CalSTRS investment committee approved the PE policy at its May 8 meeting, updating benchmarks for three traditional PE-asset classes — buyout, venture capital and debt-related — as […] | | Read more... | |
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LeapFrog hauls in $700 mln for Fund III, expands FO exposurePosted: 05/09/2019 |
Subscription Required LeapFrog Investments closed its third fund on $700 million, beating its original target, with a plan to continue its goal of making impact investments in Africa and Asia. The fund, which LeapFrog called the largest-ever PE fund by a dedicated impact-fund manager, has already made five investments: WorldRemit, a digital remittances company, NeoGrowth, an India-focused credit […] | | Read more... | |
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SF to boost investment team, eyes more co-investingPosted: 05/08/2019 |
Subscription Required San Francisco Employees’ Retirement System plans to increase its investment staff by 73 percent in the next six years, citing strong investment results, the system said at its April meeting. Part of that increase would stem from the system expanding its PE co-investments. Over 10 years, SFERS will be seeking more co-investments and expects their size to increase […] | | Read more... | |
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